PHILADELPHIA, April 10, 2025 (GLOBE NEWSWIRE) --

Driven Brands Holdings, Inc. (NASDAQ: DRVN) Class Action Survives Motion to Dismiss:

A securities fraud class action complaint against Driven Brands Holdings, Inc. (NASDAQ: DRVN) has survived defendants, attempts to dismiss the complaint. Grabar Law Office is now investigating claims on behalf of long-term Driven Brands shareholders. The investigation concerns whether certain officers of the company have breached their fiduciary duties they owed to the company.

If you have held Driven Brands (NASDAQ: DRVN) shares continuously since prior to October 27, 2021, you can seek corporate reforms, the return of funds back to the Company, and a court approved incentive award at no cost you. Visit https://grabarlaw.com/the-latest/driven-brands-shareholder-investigation/ or contact Joshua H. Grabar at jgrabar@grabarlaw.com or call 267-507-6085 to learn more.

WHY: An underlying securities fraud class action complaint alleges that Driven Brands, through certain of its officers and directors, made numerous materially false and misleading statements and omissions pertaining to: (i) Driven Brands’ ability to efficiently and effectively integrate a high volume of acquired businesses, including statements related to the status of integrating its U.S. auto glass businesses; and (ii) the performance and competitive position of Driven Brands’ car wash business segment.

On February 20, 2025, a Federal Court determined that the allegations in the plaintiff’s underlying securities fraud class action complaint were adequately pleaded to survive defendants attempts to dismiss the complaint.

WHAT TO DO NOW: If you are a current Driven Brands shareholder who has held Driven Brands shares since prior to October 27, 2021, you can seek corporate reforms, the return of funds back to the company, and a court approved incentive award at no cost to you whatsoever. If you would like to learn more about this matter, you are encouraged to visit https://grabarlaw.com/the-latest/driven-brands-shareholder-investigation/, contact Joshua H. Grabar at jgrabar@grabarlaw.com or call 267-507-6085. $DRVN #DrivenBrands

ModivCare, Inc. (NASDAQ: MODV):

Philadelphia, PA - Grabar Law Office is investigating claims on behalf of ModivCare, Inc. (NASDAQ: MODV) shareholders. The investigation concerns whether certain officers of ModivCare have breached the fiduciary duties they owed to the company.

Current ModivCare shareholders who have held ModivCare shares since prior to November 3, 2022, can seek corporate reforms, the return of funds back to the company, and a court approved incentive award - all at no cost to them whatsoever. To learn more visit: https://grabarlaw.com/the-latest/modivcare-shareholder-investigation/, contact Joshua Grabar at jgrabar@grabarlaw.com, or call 267-507-6085.

Why: A recently filed securities fraud class action complaint alleges that ModivCare, Inc. (NASDAQ: MODV), through certain of its officers, misled the market to believe certain contracts used in its non-emergency medical transportation (“NEMT”) segment mitigated risks to its free cash flow. In reality, the Company’s free cash flow had deteriorated. When the truth began to reach the market, ModivCare’s stock price suffered significant declines, harming investors.

Specifically, Defendants failed to disclose that certain contracts used in ModivCare’s NEMT segment caused the Company’s free cash flow to deteriorate and that, as a result, (1) contract renegotiations and pricing accommodations negatively impacted the Company’s adjusted EBITDA; (2) the Company had insufficient liquidity; and (3) Defendants’ positive statements about the Company’s business, operations, and prospects were materially misleading and/or lacked a reasonable basis.

What To Do Now: Current ModivCare (NASDAQ: MODV) shareholders who have held ModivCare shares since prior to November 3, 2022, can seek corporate reforms, the return of funds back to the company, and a court approved incentive award - all at no cost to them whatsoever. If you would like to learn more about this matter, you are encouraged to visit https://grabarlaw.com/the-latest/modivcare-shareholder-investigation/, contact Joshua Grabar at jgrabar@grabarlaw.com, or call 267-507-6085. #ModivCare $MODV

Monolithic Power Systems, Inc. (NASDAQ: MPWR):

Grabar Law Office is investigating claims on behalf of Monolithic Power Systems, Inc. (NASDAQ: MPWR) shareholders. The investigation concerns whether certain officers and directors of Monolithic have breached their fiduciary duties owed to the company.

Current Monolithic (NASDAQ: MPWR) shareholders who have held shares of the Company’s stock since prior to February 8, 2024, can seek corporate reforms, the return of funds back to the company, and potentially a court approved incentive award if appropriate, at no cost to them whatsoever. Click here to learn more: https://grabarlaw.com/the-latest/mpwr-shareholder-investigation/, contact Joshua Grabar at jgrabar@grabarlaw.com, or call us at 267-507-6085.

WHY: A recently filed securities fraud class action Complaint alleges that, Monolithic Power Systems, Inc. (NASDAQ: MPWR), via certain of its officers, made false and/or misleading statements and/or failed to disclose that: (i) Monolithic’s voltage regulator modules and power management integrated circuits were suffering from significant performance and quality control issues; (ii) these defects had, in turn, negatively impacted the performance of certain products offered by Nvidia in which such products were used; (iii) Monolithic had failed to adequately address and resolve known issues affecting the performance of the power management solutions Monolithic supplied to Nvidia; (iv) Monolithic’s relationship with Nvidia - the Company's most important customer - had been irreparably damaged due to the significant performance and quality control problems affecting the products it supplied to Nvidia and Monolithic’s failure to adequately address such issues; and (v) as a result of the above, Monolithic was acutely exposed to material undisclosed risks of significant business, financial, and reputational harm.

WHAT YOU CAN DO NOW: If you have held Monolithic (NASDAQ: MPWR) shares since prior to February 8, 2024, you can seek corporate reforms, the return of funds spent defending litigation back to the company, and a court approved incentive award, at no cost to you whatsoever. Please visit https://grabarlaw.com/the-latest/mpwr-shareholder-investigation/, contact Joshua Grabar at jgrabar@grabarlaw.com, or call us at 267-507-6085. #MonolithicPower #MPWR $MPWR

Virtu Financial Inc. (NASDAQ: VIRT) Class Action Survives Motion to Dismiss:

A federal securities fraud class action alleging that Virtu Financial Inc. (NASDAQ: VIRT), and certain of its officers failed to disclose to investors that it had improper safeguards in place and was not monitoring which of its employees were accessing the primary database containing sensitive trader information, has survived a motion to dismiss.

Virtu shareholders who have continuously held Virtu shares since prior to November 7, 2018, can seek corporate reforms, the return of funds back to the company, and a court approved incentive award at no cost to them whatsoever. Learn more or join by clicking https://grabarlaw.com/the-latest/Virtu-shareholder-investigation/, contact Joshua H. Grabar at jgrabar@grabarlaw.com, or call 267-507-6085.

WHAT IS HAPPENING: Grabar Law Office is investigating claims on behalf of long-term Virtu (NASDAQ: VIRT) shareholders. The investigation concerns whether certain officers of the company have breached their fiduciary duties owed to the company. This investigation comes as a shareholder securities fraud class action has survived a motion to dismiss.

WHY: A securities fraud class action complaint alleges that Virtu Financial, via certain of its officers and directors, made false and/or misleading statements and/or failed to disclose that: (i) the Company maintained deficient policies and procedures with respect to its information access barriers; (ii) accordingly, Virtu had overstated the Company’s operational and technological efficacy as well as its capacity to block the exchange of confidential information between departments or individuals within the Company; (iii) the foregoing deficiencies increased the likelihood that the Company would be subject to enhanced regulatory scrutiny; and (iv) as a result, Defendants’ public statements were materially false and/or misleading at all relevant times.

On March 17, 2025, a federal Court determined that key allegations were sufficiently pled to survive defendants’ motion to dismiss.

According to the Court’s Order, "essentially anyone at Virtu, including its proprietary traders" could directly access this material non-public information from at least January 2018 through April 2019, and to do so, Virtu traders only needed to use a "widely known and frequently shared username and password."

"The court concludes that plaintiff's 'inference of scienter,' [inference that defendants knew their statements or omissions were false or misleading or acted with reckless disregard for the truth] supported by circumstantial evidence of defendants' reckless failure to inform its investors about the FS Database issue, is 'cogent and at least as compelling as' defendants' opposing inference that they identified the FS Database issue, rectified it, and self-reported it to the SEC, while continuously updating the market on the fact of and substance of the resultant SEC investigation."

WHAT YOU SHOULD DO NOW: If you are a current Virtu shareholder who has held Virtu stock since on or before November 7, 2018, you can seek corporate reforms, the return of funds spent defending litigation back to the company, and a court approved incentive award, at no cost to you.

If you would like to learn more about this matter, you are encouraged visit https://grabarlaw.com/the-latest/Virtu-shareholder-investigation/, contact Joshua H. Grabar at jgrabar@grabarlaw.com or call 267-507-6085. $VIRT #VirtuFinancial

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Contact:
Joshua H. Grabar, Esq.
Grabar Law Office
One Liberty Place
1650 Market Street, Suite 3600
Philadelphia, PA 19103
Tel:  267-507-6085
Email: jgrabar@grabarlaw.com